Fraud allegations against Goldman Sachs ( GS) (GS) continued to strike fear in the hearts of investors, driving them out of the market. In response to a shaky trading day, the VIX has seen gains, driving the futures-backed VXX higher.

Losers

Although the fund saw a nice pop after hitting its 50-day moving average during the latter half of March, GUR's performance throughout the start of April has been choppy. On Monday, the fund tacked on its third consecutive day of losses.

GUR tracks a basket of companies hailing from five nations: Russia, Turkey, Poland, Hungary, and the Czech Republic. Russia accounts for the fund's largest geographic slice, commanding over 60% of the fund's total index.

Solar and alternative energy ETFs took a heavy hit on Monday. Over the past few weeks, TAN has managed to break through its 50-day moving average and approach the higher 200-day levels. Unfortunately, on Friday the fund reversed and losses continued into Monday.

The impact of Goldman Sachs' situation could be felt around the globe on Monday. In Taiwan, negative sentiment stemming from troubles facing the bank holding company was blamed for a rocky trading day. Taiwanese financial firms were not the only companies to take a hit, however. AU Optronics ( AUO), a LCD maker which accounts for 2.3% of EWT, also fell during Monday's trading.